Jersey Post CEO: It’s been a successful but challenging trading year

Jersey Post Group has published its Annual Report and Accounts for 2023.

Highlights of the report:

• The Group delivered a positive EBITDA of £2.6 million, of which £1.1 million related to a one-off provision release. This resulted in an EBITDA improvement of £3.7 million, compared with the previous year and a significantly reduced loss before tax of £101,000 (£6.7 million loss in 2022)

• Jersey Post employs 345 staff on the island. It pays the living wage as a minimum. As the largest ‘feet on the street’ network, delivering 90,000 letters and parcels every day, it also aim to keep our carbon emissions as low as possible, with the largest electric fleet on the island.

• Jersey Post delivers for some of the biggest players in the postal market, including Amazon, Royal Mail, DPD, UPS and FedEx. With the integration of Woodside Logistics, Jersey Post is now able to provide customers with end-to-end services in Jersey and Guernsey

• Jersey Post’s membership of the UPU (Universal Postal Union) allows it to operate as a truly global business with access to all postal service providers, including alternative delivery methods, where these options exist.

• More than 40% of annual income is from the Group’s UK and international logistics businesses, as part of our diversification strategy. Our aim with this strategy is to generate income to fund the provision of our postal services in Jersey where letter volumes are in decline (30% in the last 2 years alone) and costs to serve increasing.

Mark Siviter, CEO of Jersey Post Group: “I’d like to thank all our colleagues. We’re a people business and could not exist without the hard work, dedication and loyalty from teams across the Group. We pride ourselves on being a fair employer in Jersey, paying more than the living wage to our posties. At the heart of everything we do is our community and our passion for delivering for islanders. We’re a commercial business with a social purpose, and we aim to be a trusted States Owned Enterprise. It’s been a successful but challenging trading year. Our Group results
are well ahead of our financial targets agreed with our shareholders, but we’re not complacent and know there is still lots of work to do to future-proof our business.”